Ytrog wrote:Lawful is not always the same as ethical.
Nor is it always different. The particulars of the situation override any generalizations.
Furthermore, let's not get carried away with the notion that "people are being cheated" when a debt agreement is voided. That is simply a vast over-application of an easy to understand person-to-person exchange. Let's remember that a debt arrangment is almost always one in which there is profit
for the creditor, in some cases, obscene profit. Now that by itself doesn't mitigate the moral aspects of my breaking the agreement. But to cast everything in terms of "someone else is now saddled with your debt" - not even true much of the time. It might be the case that an institution has simply realized less profit, but no actual loss. It might be the case that the principle is recoverable through asset liquidation. It depends.
"When one thing is practiced & pursued, ignorance is abandoned, clear knowing arises, the conceit 'I am' is abandoned, latent tendencies are uprooted, fetters are abandoned. Which one thing? Mindfulness immersed in the body." -AN 1.230